Project Update and ISO 14001 Certification

Savannah Resources Plc, the developer of the Barroso Lithium Project in Portugal (the ‘Project’), a 'Strategic Project' under the European Critical Raw Materials Act and Europe's largest spodumene lithium deposit, is very pleased to announce some further important milestones as it continues to progress the Project towards construction. Recent milestones include:

International Standards Organisation (‘ISO’) 14001 Certification: The Barroso Lithium Project and its associated activities and facilities has been certified as compliant with the ISO 14001 standard, the internationally recognised standard for Environmental Management Systems following a comprehensive audit by an independent external auditor.

Processing Plant Front-End Engineering Design (‘FEED’) work:

Contractor selection: Following a competitive selection process involving multiple engineering firms, Sedgman, a minerals processing engineering and project delivery company, has been appointed as FEED contractor. The selection was based on Sedgman’s strong technical capability, extensive experience in lithium and critical minerals projects and its competitive bid. Sedgman previously managed metallurgical testwork for Savannah and was responsible for the Project’s process flowsheet development and plant design for the Definitive Feasibility Study (‘DFS’).

Work programme: Over the next eight months, Sedgman will lead the FEED programme, with a particular focus on the process design, procurement and management of 13 long-lead equipment (‘LLE’) packages that Savannah considers are critical to maintaining the Project’s schedule and advancing the Project towards Final Investment Decision (‘FID’).

Down payments for LLE: Savannah will finance down payments and associated costs for these LLEs, which form part of the overall construction costs for the Project, from its c. US$53m cash and short term treasury reserves.

Recruitment Targets: In parallel with the increase in workstreams and preparations for the Project’s construction, Savannah is targeting to recruit c.30 additional roles across a range of disciplines in the coming months. Once achieved, Savannah will have expanded its team by c.75% and expects to continue to grow the team further during 2027 and 2028.

Savannah’s Chief Executive Officer Emanuel Proença said, “Following the recent US$40m fundraise, Savannah is moving on quickly to use its increased cash reserves to achieve the next set of milestones on the Project, ahead of planned construction next year. This includes completing the FEED exercise for long lead time equipment and placing down payments on orders, and rapidly building out the team in support of the many workstreams which we need to complete. I encourage all those interested in working with Savannah on this critical project to look at the opportunities available on our website and LinkedIn page.

“In parallel with this, all at Savannah were delighted to have achieved ISO 14001 certification, which reflects the Company’s commitment to the highest international standards in its Environmental Management Systems. My thanks go to our Environmental Manager Sonia Coelho and all the team who worked so hard to achieve this goal.

“As we continue to prepare for construction next year, more significant news flow can be expected during the remainder of the year. This should include submission of the RECAPE, conditional offers of Project Finance, updates regarding a second offtake partnership and more key hires for the team.”

ISO 14001 is the internationally recognised standard (the ‘Standard’) for Environmental Management Systems. It provides a structured framework for organisations in any sector to identify, control and reduce their environmental impacts, while promoting legal compliance and continuous improvement. It sets the benchmark for companies that take environmental sustainability seriously and consistently over time, including through regular audits carried out by an independent external entity, as was the case for Savannah. The standard also contributes to 12 of the 17 UN Sustainable Development Goals.

Figure 1: The ISO 14001 standard contributes to the following UN Sustainable Development Goals

The framework encompasses various aspects, from resource usage and waste management to monitoring environmental performance and involving stakeholders in environmental commitments. It also provides organisations with a structured, systematic approach to meeting the expectations of regulators, customers, investors, and supply chains to demonstrate credible environmental action.

In addition to the external benefits highlighted above, adoption of IS0 14001 can lead to a noticeable reduction in a company’s waste production, resource consumption, and pollutant emissions, ultimately resulting in a minimised environmental footprint and greater efficiency and productivity. This in turn can generate cost savings, help a company to better manage its environmental risks, protecting the organisation from potential liabilities and unexpected disruptions.

Savannah’s ISO 14001 Certification

The certification was awarded by external auditor Bureau Veritas following an independent audit that assessed the conformity of Savannah’s system with the requirements of ISO 14001.

This milestone consolidates Savannah’s existing environmental management practices, providing a structured framework to identify and manage environmental aspects and impacts, monitor compliance with applicable legal and environmental obligations, set objectives and evaluate performance.

Savannah remains focused on applying its new ISO 14001 certification every day, reinforcing our commitment to environmental protection and continual improvement in environmental performance.

Figure 2: Savannah’s team with the ISO 140001 Certificate

From left to right: Sonia Coelho (Environmental Manager), Emanuel Proença (CEO) and Marta Fernandes (Environmental Assistant)

Front End Engineering Design (‘FEED’)

Contractor appointment – About Sedgman

Sedgman, a wholly owned subsidiary of CIMIC Group and a cornerstone of ACS Group’s global critical minerals platform, is a leading provider of minerals processing and associated infrastructure solutions to the global resources industry. Operating since 1980, Sedgman delivers end-to-end lifecycle services —spanning detailed feasibility studies, engineering design, procurement, construction management (EPCM), commissioning, and full-scale contract operations.

With a track record of more than 630 studies and projects completed globally, the company has integrated specialised expertise in mineral beneficiation, hydrometallurgy, pyrometallurgy, chemicals, and energy to support the world’s clean energy transition. Importantly, Sedgman have been responsible for the successful development, delivery and optimisation of lithium greenfield projects and operation expansions in Australia, North America, and Europe. Sedgman offers over 20 years of hard rock lithium experience and industry best practices to the Project.

FEED Workstream

Over the next eight months, Sedgman will lead the FEED programme, with a particular focus on the process engineering design, procurement and management of 13 long-lead equipment packages that Savannah considers are critical to maintaining the Project’s schedule and advancing the Project towards FID. The process is planned to consist of three phases:

Phase 1: Process optimisation

Sedgman will review and optimise the DFS process design for cost and recovery.

Finalise process engineering design deliverables to ‘Issued for Use’ status.

Produce ‘Issued for Tender’ status specifications and datasheets for key Long Lead Equipment (‘LLE’).

Phase 2: LLE procurement management

Prepare tender LLE packages and evaluate bids.

Submit Recommendation for Award for approval and award by Savannah.

Phase 3: Contract management

Manage suppliers to finalise Issued for Construction vendor data.

Recruitment

Savannah is following a detailed workforce plan to support the transition from project development through construction and into operation. The plan identifies the roles required, timing of recruitment, contract strategy, and associated workforce costs, allowing the team to be built in a phased and structured way through to operational readiness.

The current recruitment plan includes approximately 30 new positions with planned start dates in the coming months.

Key positions include:

Project Director

Project Manager (Engineering, Procurement, and Construction Management)

Technical Integration Manager

Procurement Manager

Contracts Lead

EPCM Planner

In addition, recruitment is underway across project controls, engineering, Health, Safety and Environment, community engagement, IT, finance and operational support functions and is expected to continue during 2027 and 2028.

All current vacancies are published on the Savannah website and supported through additional recruitment channels.

Regulatory Information

Savannah – Enabling Europe’s energy transition.

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